Legal Cloud Lifts: Argentine President's Crypto Case Dropped

For Argentine President Javier Milei and his sister, Karina, the legal uncertainty surrounding a high-profile cryptocurrency scandal has officially come to an end. Court records confirm that a federal judge has dismissed the criminal investigation, clearing the two of any charges related to the launch and subsequent crash of the $Libra token. This decision brings a formal close to a case that had cast a shadow over the administration since early 2025.

The dismissal was granted by Federal Judge Marcelo Martinez de Giorgi following a request from prosecutors to close the file. In his written ruling, the judge determined that the reported events did not fit into a specific legal category for fraud. He concluded that the prosecution had failed to prove any criminally relevant deception on the part of the president or his sister. This technical finding effectively ends the criminal scrutiny of the incident.

The case stemmed from the release of $Libra, a new digital currency that saw a dramatic price movement in February 2025. Milei posted about the coin on X, formerly Twitter, stating it would help fund small businesses and start-ups. He also included a direct link for followers to purchase the asset. The post triggered a sharp and immediate climb in the coin’s value, drawing in a wave of investors.

The momentum reversed quickly. Within a few hours of the initial post, Milei deleted the message. The value of $Libra then plunged, leaving most investors who had bought in at the peak with a significant portion of their money lost. This sudden volatility became the focal point of the legal dispute, with critics arguing the sequence of events suggested a coordinated scheme.

The fallout from the crash was swift. Opposition members of Congress moved to plan impeachment proceedings, citing the incident as evidence of improper conduct. Online commentators were even more critical, using the term "rug pull" to describe what they saw as a classic scheme where promoters attract buyers and then halt trading to keep the proceeds. This terminology highlighted the intensity of the public reaction to the financial losses.

Milei has consistently pushed back against these accusations, maintaining that his actions were transparent and well-intentioned. In an interview with Todo Noticias, he clarified his role by stating, "I didn't promote it, I merely shared it." He emphasized that he acted in good faith while the coin's value was rising, suggesting he had no ulterior motive during the initial surge in interest.

The president also addressed the decision to delete the post. He explained that he did not know the details of the project initially, but after learning more, he decided not to continue promoting it. In a separate television appearance, he argued that those who invested in $Libra did so voluntarily and fully understood the inherent risks of the cryptocurrency market. This defense centers on the idea of informed consent and personal responsibility in financial transactions.

The presidential office has maintained that Milei had no involvement in the development of the coin. At the time of the crash, the office announced that the Anti-Corruption Office would examine whether the president had acted improperly. While that internal review was part of the initial response, the recent judicial dismissal marks the final word from the federal courts. As of this report, Milei had not publicly responded to the news of the case being dropped.